Oyo Govt.  Criteria for Disbursing N1B Loan to Framers

Oyo Govt.  Criteria for Disbursing N1B Loan to Framers

The Chairman of the Oyo State Agricultural Credit Corporation, Sheik Taofik Akeugbagold, has revealed the criteria for disbursing the N1 billion loan to farmers.

Akeugbagold who made these revelations during a sensitization tour to the geopolitical zones in the state stated that to ensure geographical spread, an applicant must be a duly recognized farmer and meet specific requirements for qualification.

According to him the sensitization tour conducted by the corporation aimed to interact with genuine farmers in each zone of the state and identify those who would benefit from this gesture. The corporation will guard against giving loans to ‘farmers on paper’ to ensure that targeted farmers benefit from this initiative.

He stressed that after completing the sensitization exercise, application forms can be obtained free of charge at each Local Government Council office where Directors of Agriculture are available.  

He said that ACCOS Field Officers and identified banks in each domain will participate in processing these applications adding that an applicant needs a Civil Servant from Grade level 07 or above as guarantor depending on their requested loan amount.

Akeugbagold warned that group lending will not be entertained during this process , urging applicants to  obtain forms individually without any official liaison through social media or internet sales points since they do not exist.

On his part, Comrade Emmanuel Ogundiran, General Manager of the Board reiterated that only cleared farmers without outstanding debts owed to participating financial institutions would have access to these funds under SAfER Sub-committee food security program.

He also emphasized that politics would play no role in determining eligible recipients but instead climate resilience training had been provided by government officials for all interested parties involved within agriculture communities throughout Oyo State.

Commending the Governor Seyi Makinde for his visionary leadership,  Chief Ogunjinmi praised the  Governor ‘s efforts towards enhancing agricultural sector growth while encouraging all future beneficiaries of this loan facility program offered by ACCOS use it judiciously when granted

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